The Dalata Hotel Group is to take control of three hotels in Ireland.
The Irish company is paying €62.5 million to acquire the freehold of two hotels in Dublin – the majority of the 304-room Clayton Cardiff Lane and the 353-room Clarion Liffey Valley.
An agreement has been made with PwC receivers to acquire the 90-room Maldron Hotel Portlaoise for €6.8 million.
Dalata is also in exclusive negotiations to sell and lease back one of its Clayton hotels in the UK, although the location was not disclosed.
Deputy CEO business development and finance, Dermot Crowley, said: “We have been seeking to purchase as much of the freehold of Clayton Hotel Cardiff Lane as possible since we floated the company in March 2014.
“I am delighted that we will now own the majority of the hotel and that as a result of this transaction, we will be able to add much needed conference facilities to the hotel in an area of the property that is currently in a shell and core condition.
“This transaction is also consistent with our stated strategy of buying out the freehold interests of those leased properties with future unpredictable rent reviews.
“We have managed the Clarion Hotel Liffey Valley since March 2016 and are very excited about the potential of this hotel under the Clayton brand.
“We believe the proposed sale and leaseback of one of our UK properties represents a very good opportunity to utilise the strength of our balance sheet.”
He added: “We are delighted to have secured the freehold of our Maldron Hotel in Portlaoise.
“This transaction is consistent with our stated strategy of buying out the freehold interests of those leased properties with future unpredictable rent reviews.”
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